Wells Fargo & Company MN Buys 40,698 Shares of Workday, Inc. (NASDAQ:WDAY)

Wells Fargo & Company MN grew its position in Workday, Inc. (NASDAQ:WDAY) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 733,038 shares of the software maker’s stock after purchasing an additional 40,698 shares during the period. Wells Fargo & Company MN’s holdings in Workday were worth $189,146,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Workday in the fourth quarter worth $26,000. Roxbury Financial LLC acquired a new stake in Workday in the 4th quarter valued at about $25,000. Avion Wealth grew its holdings in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the period. TCTC Holdings LLC acquired a new position in Workday during the fourth quarter worth approximately $35,000. Finally, Rakuten Securities Inc. raised its stake in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after buying an additional 66 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

Workday stock opened at $217.14 on Friday. The business has a 50 day moving average of $254.30 and a 200-day moving average of $254.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a market capitalization of $57.76 billion, a P/E ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. On average, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the transaction, the chief executive officer now owns 10,847 shares in the company, valued at approximately $2,544,814.67. This trade represents a 22.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now directly owns 75,000 shares in the company, valued at approximately $18,099,750. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 432,441 shares of company stock valued at $108,901,692. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WDAY. BNP Paribas raised Workday to a “strong-buy” rating in a report on Friday, February 14th. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Wells Fargo & Company raised their target price on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Mizuho upped their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Piper Sandler raised their price objective on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.18.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.